In 2023, artificial intelligence made a significant impression on both consumers and regulators. According to analysts, the technology will continue to advance and reach even higher levels by 2024.
Christopher Alexander, chief analytics officer of Pioneer Development Group, told that while he believes AI will get a little closer to what the public imagines in 2024, it will still be years away from being autonomous in the way people envision it.
Alexander’s remarks follow a notable uptick in the creation and accessibility of AI tools in 2023, as well-known language learning model (LLM) platforms like OpenAI’s ChatGPT become increasingly well-liked and inspire other major tech companies to join the bandwagon.
In 2023, Microsoft was one of the first corporations to follow OpenAI’s led, revealing a substantial investment in the AI startup as well as the launch of its own chatbot that will be used on both its Bing search platform and another AI bot compatible with Windows 11. Google, Amazon, and Meta unveiled their own AI programs earlier this year, sparking a new arms race among several of the tech titans.
However, analysts also think that the expanding technology sector has the potential to be a boom for startups; this trend may start to emerge in 2024.
According to The Federalist staff editor Samuel Mangold-Lenett, he expects the momentum from this past year will only pick more steam in 2024. Businesses have gained stability, startups are learning how to adapt it to fit different market niches, and the general public has come to understand that AI technology is beneficial in a number of important areas.
Mangold-Lenett also thinks that 2024 will see a significant increase in the degree of user customization that AI can achieve, similar to other technologies.
Mangold-Lenett stated that while huge LLMs continue to gather and process enormous amounts of data, he expects this year to see a lot more customization and the emergence of specialized AI firms. AI will probably also be more and more embedded into hardware, such as digital assistants on smartphones. He doubts that AGI will be developed very soon, robotics still needs to catch up, and large-scale AI production is still a ways off.
Similar thoughts were expressed by Phil Siegel, the founder of the Center for Advanced Preparedness and Threat Response Simulation (CAPTRS), who told that tailored AI models might “explode” around 2024.
According to Siegel, this year will see businesses realize they have a tonne of data to use to create more custom models that will boost productivity and efficiency. Things like sales, marketing, customer assistance, and tech development will soar, while the usage of LLMs may expand but may fall short in certain areas. In 2024, customized models made for business purpose will soar, even though other applications of LLMs might not pick up speed as rapidly.
As 2024 approaches, there is much enthusiasm about potentially beneficial advancements in AI. However, experts have pointed out that these improvements must be accompanied with reasonable regulations and expectations of the rapidly developing industry.
Experts predict that more work will need to be done in 2024, even if the sector saw some initial steps toward regulation in 2023, such as the signing of an executive order by President Biden in October on AI safety and an agreement between the Biden administration and top tech companies to build AI tools safely in July.
Alexander stated that he does believe it is imperative that we start developing a societal framework that considers AI for those jobs that are most likely to be displaced in the near future.
Bull Moose Project CEO Aiden Buzzetti expressed similar views, pointing out that while expanding on 2023’s legal framework, the U.S. will need to maintain its competitiveness with China in the field of artificial intelligence development.
According to Buzzetti, startups have employed LLM models to diversify AI relationship development, write essays, and create internal company tools—all of which have the potential to replace aspects of the way people live today. While still in the development stage, the Biden executive order has influenced the regulation thresholds. The publications pertaining to safety standards and best practices will be the competition for any proposed policies.
